Tron and BitTorrent’s new project is expected to be launched today.
【⏰ONLY 1 Day Left!】Get ready 🔥🔥🔥
— TRON Foundation (@Tronfoundation) September 2, 2021
In fact yesterday, 2 September 2021, a new “journey” together with a new project was officially announced by both the Tron Foundation and the BitTorrent company.
The Tron galaxy with BitTorrent, and the special day of the Tron Foundation
BitTorrent has been part of the Tron galaxy for quite some time now, as the announcement of the purchase of BitTorrent Inc. is from July 2018, but no major news about this collaboration had been coming out for a while.
Now, however, the Tron Foundation is calling today a “special day”, when details of the new project will be revealed.
In the meantime, the price of the BitTorrent token (BTT) has risen by 8% in the last 24 hours, with an increase of 27% in the last week and 72% in the last month. Compared to a year ago it is even 1.100% higher, even though it is 62.5% below its all-time high of April.
TRX and the speculative bubble
TRX has made smaller gains, although it is still up 24% over the past seven days and 62% over the past month.
However, compared to a year ago it has grown “only” 200%, and above all it is still 55% below the all-time high recorded in January 2018 at the height of the speculative bubble.
According to some forecasts, however, current prices could rise further until the end of the year, and today’s announcement could contribute.
In fact, not knowing the details, there were few who bought. For example, the price of ETH has outperformed BTT and TRX over the past seven days, up 27%, and even over the past 24 hours, it has risen 5%, compared to 2.7% for TRX. BTT, on the other hand, has done slightly better, up 8% in the last 24 hours.
So far, the market does not seem to have been influenced by the announcements made by the Tron Foundation and BitTorrent Inc. because there are no details or rumours that would indicate the real potential of what will be announced today.
For this reason, should it be an important and potentially positive announcement, it is possible to imagine that the market could become more optimistic about these two cryptocurrencies today. It will all depend on what is announced, and what impact investors think it will have on the crypto markets.
BitTorrent and the BTT token
Note that both BTT and TRX had a notable spike this year in April, around the same time as Bitcoin’s ATH. Although the price dropped a lot after that and then, starting in late July, it started to recover.
However, when compared for example to prices at the end of last year, current prices are far higher, although in the case of TRX still well below the all-time high of early 2018. Though, it must also be said that BTT did not yet exist in 2018.
BitTorrent is a file-sharing platform, and Tron is the blockchain on which the BTT token was issued. It is very likely that today’s announcement is specifically about the latter, as the original tweet is from the BitTorrent company itself, and was then retweeted by the Tron Foundation. However, this announcement is most likely also about Tron.
In the past, announcements of this kind have been able to send BTT’s value soaring in the short term, so it’s not at all impossible that something similar could happen this time around. However, a lot will depend on what this announcement is.